WASHINGTON — With the Corporate Transparency Act (CTA) back in effect following a recent court ruling, the National Cattlemen’s Beef Association (NCBA) warned beef producers of the enforcement actions that will go into effect on Jan. 13, 2025.

On Dec. 23, the Fifth Circuit Court of Appeals reversed an injunction that previously halted the CTA. After the decision was made, the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury, announced an extension of the original filing deadline of Jan. 1, 2025, to Jan. 13, 2025, giving businesses more time to comply with the law.

NCBA said the delay still does not provide adequate time for the millions of small businesses required to register with FinCEN.

“The Corporate Transparency Act requires millions of family farmers and ranchers to file complex paperwork and disclose beneficial ownership information with the federal government under penalty of severe fines and jailtime,” said Kent Bacus, NCBA executive director of government affairs. “FinCEN should do the right thing and provide a realistic delay to the Corporate Transparency Act until Congress has an opportunity to provide a permanent fix that protects family farmers and ranchers.”

NCBA plans on fighting for a solution that protects producers from this mandate but in the meantime advised producers to consult their attorney and/or tax professional regarding the new development in the law.